RealTime IT News

Yahoo! Expands Finance Offerings to Californians

Yahoo! Inc. Tuesday formed a relationship with the Bank of America designed to bring account information directly to users in California.

Under terms of the agreement, Yahoo! will provide Bank of America checking, savings, credit card information and transaction history on its Yahoo! Finance and My Yahoo! channels. The service is available initially only in California, but there are plans to expand to users in other regions, the companies said. To ensure security, the companies both employ Secure Socket Layer (SSL) technology.

The alliance was made to attract the growing number of users banking online, the firms said. A recent report by Cyber Dialogue stated that 24.4 million Internet users in the United States are expected to bank online by 2002, up from a total of 6.9 million at the end of 1998.

"This agreement allows us to expose our award-winning online banking services to an even broader audience," said Michael DeVico, executive vice president of business solutions with Bank of America's Strategic Technology and Integrated Payments Services group.

"Providing our registered members with anytime, anywhere access to their personal banking information on Yahoo! is a tremendous benefit, as it gives users the ultimate convenience and flexibility when it comes to managing their finances online," said Tim Brady, vice president of production and executive producer at Yahoo!.